What are the advantages and disadvantages to renting and buying an apartment?

I wanted to rent an apartment with my best friend since we are both so eager to get out of out parents homes!
However I thought perhaps buying would be a lot better since its yours for life, not only that but you can rent it to other people when your not living there. But there is always the down side of it such as paying the down payment, interest, repairing the place etc.
Wanted to know the pros and cons for buying and renting an apartment?



What Guys Said 1

  • When you leave your apartment you have nothing to show for when renting, buying things we can sell it make some money


What Girls Said 1

  • Pro
    -not tied down
    -easy to find, many options
    -can split cost with roommate
    -can get maintenance to fix most appliance issues

    -lease terms can be steep, ex. down payment + first month rent + app. fee
    -may not allow pets
    -restrictions on type of pet you can have (feasible to have a border collie?)
    -breaking contract can be hard/costly/difficult
    -may not offer as much privacy as house
    -many people close by

    • Thanks! :)

    • Show All
    • Might also be cheaper to just buy a dishwasher, throw the dishwasher away and live in the cardboard box. Hobo style! :3

    • @El_Muffidore lol, very true. I heard you can even get water resistant boxes these days. Dude, I feel you on the no social life, I went to a roommate site the first time I needed a roommate.